Sun, Feb 4, 2024 10:02 AM
Stocks climb to new highs even as big-tech trade splinters
A Flip by Shubhangi Gupta
Zaggle Prepaid Ocean Services plans to raise ₹950 crore through equity shares and securities to fund strategic growth and operational enhancements, following a 112% revenue growth in Q1FY25 with a 10.7% EBITDA margin. The company also appointed a new Non-Executive Director and saw its shares close 0.3% lower at ₹439.
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Nazara Technologies saw its stock rise 4.2% to intraday high of ₹949.5 on the BSE, buoyed by its subsidiary Datawrkz acquiring 100% of UK growth marketing agency Space & Time. The acquisition, valued at approximately ₹52.3 crore in cash and stock, is expected to strengthen Datawrkz's growth across Europe and North America, positioning it as a significant player in the global digital advertisement.
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India's fiscal deficit for the first six months of FY25 stands at 29.4%, lower than last year's 39.3%. Capital spending remains slow, reaching only 37.3% of the full-year target, while total spending is at 43.8% of the FY25 Budget target. Experts predict a lower fiscal deficit ratio than the 4.9% target, thanks to a higher-than-expected RBI dividend.
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